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MEPS: European steel price market round up


An imbalance in supply and demand has continued to weigh heavily on European flat product prices. Despite optimistic macroeconomic indicators in several countries, customers are still hesitant to place orders.












Navios Logistics announced that it and Navios Logistics Finance (US) Inc., its wholly owned finance subsidiary, completed the sale of $375 million of 7.250% senior notes due 2022. The Notes were offered and sold in the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and in offshore transactions to non-United States persons in reliance on Regulation S under the Securities Act.
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Navios Acquisition, an owner and operator of tanker vessels, announced today that the Nave Equinox and the Nave Pulsar have been chartered out to an investment grade counterparty for one year at a rate of $14,813 net per day plus a $2,000 per day premium when vessels are trading in ice.
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The recovery of the Eurozone continues as job creation returns across the region. The hiring of more staff indicates that manufacturing and service industries believes in a sustainable recovery where growth is picking up.
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The Athens Convention relating to the Carriage of Passengers and their Luggage by Sea, 2002, which substantially raises the limits of liability for the death of, or personal injury to, a passenger on a ship, enters into force on 23 April 2014.
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Nakilat, the Qatari LNG shipping firm, announced the closing of $807.4 million in refinancing allowing the firm to add three new LNG carriers to Maran Nakilat Co. Ltd, its joint venture with Greek shipowner, Maran Ventures Inc.
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The European Commission has given new guidance on the interpretation of the regulation to provide cabotage within a Member State, thus providing an internal market for the provision of maritime transport services.
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Italy’s Enel has sought permission to explore for oil and gas in Greece, the Greek government said on Tuesday. Enel has expressed interest in three onshore areas in the western part of the country, Greece’s Energy Ministry said, adding it would duly decide on the Italian company’s application.
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